Service tax and sale tax both are included in one invoice
This query is : Resolved
01 February 2012
Hello,
I have a query regarding service tax.
our company is a software reseller and we are billing like as "amount" + 'service tax'= "sum of amount" + 'vat/ cst'= "T. Amount". I want to know that is it a right way of billing or not.
ex- 100+10.3%= 110.3+5%= "115.81"
if we received 50/- an advance payment against above amount(115.81), how we calculate the service tax for deposit ???????
please give a suggestion regarding this problem.
Thanks
Nitish
I have a query regarding service tax.
our company is a software reseller and we are billing like as "amount" + 'service tax'= "sum of amount" + 'vat/ cst'= "T. Amount". I want to know that is it a right way of billing or not.
ex- 100+10.3%= 110.3+5%= "115.81"
if we received 50/- an advance payment against above amount(115.81), how we calculate the service tax for deposit ???????
please give a suggestion regarding this problem.
Thanks
Nitish
CA SUMiT PATWARi
(Expert)
01 February 2012
Hi nitish,
Going by simple mathematics.
Your Rs 50(115.81%) = basic(100%) + service tax(10.3%) + vat(5.81%)
Then service tax component received in Rs 50 = 50 * (10.3 / 115.81)
Going by simple mathematics.
Your Rs 50(115.81%) = basic(100%) + service tax(10.3%) + vat(5.81%)
Then service tax component received in Rs 50 = 50 * (10.3 / 115.81)
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